What is Financial Literacy and How Do You Get Started?

And then you might have wondered what it means and whether you’ve got it. So let’s clear up some confusion….

What financial literacy doesn’t mean is that you’re qualified financial expert. It doesn’t mean you can read vast tracts on Britain’s banking reforms. And it doesn’t mean you should start serving up financial advice to your friends and relatives.

Instead, it’s a much more useful concept, designed to help you navigate the world of household budgets. Financial literacy means you’re equipped with the skills required to understand everyday finances. And being financially literate means you can then use that knowledge, and the resources around you, to make informed decisions about your economic status.